The betex project was conceived by the brightest mind you could think of, Oleg Torkhov who is a successful entrepreneur and an enthusiast of the blockchain technology. Of course, such as project as this which plans to disrupt the way binary options are being run in the traditional financial derivative market could not be done successfully by one person but a team of like-minded people with a common base goal.
The project had been in development for more than a year and the team had help in moving the project from just an idea to a Minimum Viable Product. As part of the development team's works is the creation of websites such as https://Betexlab.com which contains the full project description. Other platforms include https://Betex.io and https://GoBet.io which are a running environment for this project but blockchain transactions are based on the test-net. The two websites are needed to demonstrate the concept of a common liquidity pool used for the binary trading option on the blockchain.
The progress so far includes the design and development of the website and the architecture behind the project. The project used the most trusted web application which is the Amazon Web Services. Also in the same vein, the smart contract which is accountable for transparency not found in the traditional market had been audited. So far, only three trading pairs which include Bitcoin-to-Dollar (BTC/USD), Ethereum-to-Dollars (ETH/USD) and Bitcoin-to-Ethereum (BTC/ETH) had been launched with 6 different time intervals ranging from 30 minutes to about a week.
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The Betex development strategy is aimed at an active development of the platform, continuous improvement of its features, introduction of new services, development of the ecosystem, and attraction of new users. The future developments includes but not limited to :
The creation of desktop application and testing so that all would be able to benefit from this project. But the team would also go ahead to provide the mobile applications which are compatible with both Android and iOS so that users would be able to carry out trading activities on-the-go. The software and apps to be developed come with a unique package for BETEX token holders which is the personal cabinet area.
Also for users' profitability, there would be the development of a section with statistics or chart that would be useful to make an accurate prediction for the trading pairs listed above. Alongside this, there would be the generation, distribution and profit distribution of BETEX token among its pre-sale participants.
The major development to take place in 2018 includes :
Development of an API for trading bots and the connections of brokers to users on the platform.
The launch of a peer-to-peer sports betting platform which is to occur in the second quarter of this year. Further development of the p2p sports betting includes the creation of FIX API and the creation of its' unique token which is to take place in the third quarter of this year alongside with the main of the BETEX token sale.
Lastly but not the least is the improvement of the network architecture on the blockchain to enhance user experience with the global acceptation of this project by people everywhere